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Prime Source Selects Asset Control for Data Management of Valuation Service

Posted on: Tuesday, 2 December 2008, 02:30 CST

LONDON, PARIS and NEW YORK, December 2 /PRNewswire/ -- Prime Source, a NYSE Euronext company, has chosen Asset Control's AC Plus financial and reference data management software to support the growing data needs of its independent valuation service. Prime Source will use AC Plus to bring its data management to a state-of-the-art level for the management of financial data sources and customers' portfolios.

Launched in February 2008, Prime Source provides financial institutions with a comprehensive portfolio valuation service covering a wide range of asset classes and financial instruments, from plain vanilla to the most complex structured products and illiquid securities.

Marie-Helene Cretu, CEO of Prime Source , said, "As our customers expand into new markets and geographies to trade a growing list of complex financial instruments, we must ensure that the way we handle our multiple data sources is the most efficient. In this matter, Asset Control's AC Plus will allow Prime Source to stay ahead of the industry's trends by ensuring reliability and transparency in the data management and quality in the audit trail."

Phil Lynch, Asset Control's president and chief executive officer, said, "Asset Control has helped numerous global organizations to manage the increasing collection of data required to grow their businesses, and we are pleased to help Prime Source better manage and deploy data as the service evolves."

About Prime Source

Prime Source, a NYSE Euronext company, is an independent valuation agent empowering customers to make an educated choice on the valuation of their multi asset-class portfolios.

It is a wholly-owned subsidiary of NYSE Euronext, the world's leading, most liquid and diverse exchange group, listed in New York and Paris and recognized for its independence and broad-based shareholding structure.

Prime Source operates a streamlined valuation service, covering a wide range of financial instruments from plain vanilla to complex structured products and illiquid securities. It includes an actual data management and quantitative analysis expertise to provide a comprehensive service to any financial institution needing a valuation of a financial instrument or an independent valuation of a portfolio.

Its secure and reliable process is aligned with accounting and regulatory recommendations and standards and addresses customers' valuation needs. This service represents a true added value for any customer seeking an external valuation process, ensuring full confidentiality and neutrality.

Prime Source is committed to foster innovation and improve the overall confidence in the markets by building transparency and reducing operational risks for financial institutions. This service clearly introduces a new dynamic in the rapidly growing field of portfolio valuation, capitalizing on NYSE Euronext's existing solutions.

For more information, please visit http://www.nyxprimesource.com

About Asset Control

Asset Control provides centralized data management solutions for financial institutions worldwide. From business-entity to firm-wide projects, Asset Control offers a strategic reference and market data platform that delivers the accuracy, consistency and relevancy firms need to reduce costs and risk, manage evolving compliance needs, and accelerate the delivery of new products and services. A Fidelity Ventures company, Asset Control serves some of the world's most successful financial institutions. For more information, visit http://www.asset-control.com.

Trademark Information: Asset Control, the Asset Control logo and AC Plus are trademarks or registered trademarks of Asset Control Systems, Inc. or its subsidiaries or affiliates in the U.S. and/or other countries. All other trade names are trademarks or registered trademarks of their respective holders.

SOURCE Asset Control and Prime Source

Source: PR Newswire

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